IDEA: what changed
IDEA
Largest movements
- Receivables within one year +€170,513
up €170,513 (+32.1%), from €530,994 to €701,507
of which Trade receivables: +€175,224
- Stocks and contracts -€53,291
down €53,291 (-12.9%), from €413,110 to €359,819
- Cash -€21,955
down €21,955 (-95.0%), from €23,116 to €1,161
mainly Receivables within one year (-€170,513) and Net result for the year (-€82,771)
- Trade debts +€166,355
new in 2025: €166,355
- Reserves -€82,771
down €82,771 (-11.1%), from €744,936 to €662,165
of which Distributable reserves: -€82,771
- Tax, wage and social debts -€27,736
down €27,736 (-56.9%), from €48,720 to €20,983
of which Taxes: -€24,946
- Short-term financial debts +€25,000
up €25,000 (+20.0%), from €125,000 to €150,000
- Gross operating margin +€140,938
up €140,938, from -€68,596 to €72,342
- Other operating charges +€70,140
up €70,140 (+2,071%), from €3,386 to €73,526
- Financial income +€20,237
up €20,237 (+240%), from €8,421 to €28,657
of which Financial income: +€20,237
- Staff costs -€14,296
down €14,296 (-21.0%), from €67,997 to €53,700
- Financial charges +€11,365
up €11,365 (+31.3%), from €36,359 to €47,724
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,023,655 | €1,113,011 | +€89,356 | +8.7% |
| Fixed assets | 21/28 | €56,038 | €48,516 | -€7,522 | -13.4% |
| Intangible fixed assets | 21 | - | €1,187 | +€1,187 | |
| Tangible fixed assets | 22/27 | €38,511 | €29,728 | -€8,783 | -22.8% |
| Land and buildings | 22 | €29,652 | €26,807 | -€2,845 | -9.6% |
| Plant, machinery and equipment | 23 | €1,037 | €970 | -€67 | -6.4% |
| Furniture and vehicles | 24 | €7,822 | €1,952 | -€5,871 | -75.0% |
| Financial fixed assets | 28 | €17,527 | €17,601 | +€74 | +0.4% |
| Current assets | 29/58 | €967,618 | €1,064,495 | +€96,878 | +10.0% |
| Stocks and contracts in progress | 3 | €413,110 | €359,819 | -€53,291 | -12.9% |
| Stocks | 30/36 | €413,110 | €359,819 | -€53,291 | -12.9% |
| Amounts receivable within one year | 40/41 | €530,994 | €701,507 | +€170,513 | +32.1% |
| Trade receivables | 40 | €526,230 | €701,454 | +€175,224 | +33.3% |
| Other amounts receivable | 41 | €4,764 | €53 | -€4,711 | -98.9% |
| Cash at bank and in hand | 54/58 | €23,116 | €1,161 | -€21,955 | -95.0% |
| Deferred charges and accrued income | 490/1 | €398 | €2,008 | +€1,611 | +405% |
| Total equity and liabilities | 10/49 | €1,023,655 | €1,113,011 | +€89,356 | +8.7% |
| Equity | 10/15 | €844,936 | €762,165 | -€82,771 | -9.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €744,936 | €662,165 | -€82,771 | -11.1% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €734,936 | €652,165 | -€82,771 | -11.3% |
| Amounts payable | 17/49 | €178,720 | €350,847 | +€172,127 | +96.3% |
| Amounts payable within one year | 42/48 | €178,720 | €348,166 | +€169,447 | +94.8% |
| Current portion of amounts payable after more than one year | 42 | - | €10,828 | +€10,828 | |
| Financial debts | 43 | €125,000 | €150,000 | +€25,000 | +20.0% |
| Credit institutions | 430/8 | €125,000 | €150,000 | +€25,000 | +20.0% |
| Trade debts | 44 | - | €166,355 | +€166,355 | |
| Suppliers | 440/4 | - | €166,355 | +€166,355 | |
| Taxes, remuneration and social security | 45 | €48,720 | €20,983 | -€27,736 | -56.9% |
| Taxes | 450/3 | €43,309 | €18,364 | -€24,946 | -57.6% |
| Remuneration and social security | 454/9 | €5,410 | €2,620 | -€2,791 | -51.6% |
| Other amounts payable | 47/48 | €5,000 | €0 | -€5,000 | -100% |
| Accrued charges and deferred income | 492/3 | - | €2,680 | +€2,680 | |
| Remuneration, social security and pensions | 62 | €67,997 | €53,700 | -€14,296 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,871 | €8,820 | -€3,051 | -25.7% |
| Other operating charges | 640/8 | €3,386 | €73,526 | +€70,140 | +2,071% |
| Gross operating margin | 9900 | -€68,596 | €72,342 | +€140,938 | |
| Operating profit (loss) | 9901 | -€151,850 | -€63,704 | +€88,146 | +58.0% |
| Financial income | 75/76B | €8,421 | €28,657 | +€20,237 | +240% |
| Recurring financial income | 75 | €8,421 | €28,657 | +€20,237 | +240% |
| Non-recurring financial income | 76B | €8,421 | - | -€8,421 | |
| Financial charges | 65/66B | €36,359 | €47,724 | +€11,365 | +31.3% |
| Recurring financial charges | 65 | €36,359 | €47,724 | +€11,365 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | -€179,788 | -€82,771 | +€97,017 | +54.0% |
| Income taxes | 67/77 | €18 | €0 | -€18 | -100% |
| Profit (loss) for the period | 9904 | -€179,806 | -€82,771 | +€97,035 | +54.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€179,806 | -€82,771 | +€97,035 | +54.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.